My Message Queuing Service was not at all starting i installed/uninstalled the component but still it was not getting started. Searched on google groups but couldn't get anything which was near to my problem.
I had took a backup of the storage folder (system32\msmq\storage) before and later on i found that i was not able to delete this folder, it throwed error : Access denied. I couple of times restarted my system but still Access denied. Finally I went to the security of the folder and gave the logged on user full rights over the folder. I was able to delete, but my message queuing service got detached from the services list. :-((
Luckily, I had took a backup :-) before I did the above exercise, then I re- created a storage folder under system32\msmq and copied the contents and bingoo!!! i could find the MSMQ Service under Services node and then i started it and it started without any errors!!